For months I have been saying on here that the bottom is in for Bitcoin we will not see lower than 17.5k, the whole year I had been on point with every macro move until this week.
I still believe that the bottom would have still been in if it wasn't for FTX black swan ,below you can have a look at that TA , which is now invalided .
Everything was going perfectly like last cycles , with price , timing and movements until this black swan , Bitcoin would have rallied past 20k with the stock market no doubt.
Its almost like were repeating the same thing that happened at the top , at the bottom.
Cycle Top -
A lot of indicators signaled the top here for the Bitcoin bull market and then we had the big crash , one of the main ones was the pi cycle.
TA above shows how this was right on clue 3days before the top it signaled and crossed and 3 days later bang , it was the top for a while at least .
Technical Top (Bull Trap)
This move higher was weird from the start , we had only half of the Bitcoin addresses active during this period and then my whale manipulation alert flashed on that monthly .
This indicator shows me that price is being pushed up by whales , which is not a good thing for price because its a setup for a top or crash after.
In the TA above I speak about this , using on chain metrics you can see how price was pushed up by the few whales , there was no hype , no retail.
Now fast forward a year and we find our selfs in the same situation at the bottom.
Cycle Bottom -
There so many indicators and signals that flashed the bottom you can check it out in the TA which I first linked.
Technical Bottom (Bear Trap) -
Using this model you can see we now at the green area that bottomed last cycle and we still above the white support which Bitcoin historically creates every cycle.
The bottom of the green channel in this model currently sits at 11k , anything is possible at this moment so a move down to this area can happen but what i expect to happen is a close above this white line so hammer wick down to 11k and weekly close above 15k.
So bottom line is at this moment I have no idea where this is going for the first time this year , prepare for impact is what im doing , orders set at 11.5k already on a exchange that hopefully is not going under lol , coinbase and we shall soon find out if the big players in the space are pulling off the same stunt as last November.
I still believe that the bottom would have still been in if it wasn't for FTX black swan ,below you can have a look at that TA , which is now invalided .
Everything was going perfectly like last cycles , with price , timing and movements until this black swan , Bitcoin would have rallied past 20k with the stock market no doubt.
Its almost like were repeating the same thing that happened at the top , at the bottom.
Cycle Top -
A lot of indicators signaled the top here for the Bitcoin bull market and then we had the big crash , one of the main ones was the pi cycle.
TA above shows how this was right on clue 3days before the top it signaled and crossed and 3 days later bang , it was the top for a while at least .
Technical Top (Bull Trap)
This move higher was weird from the start , we had only half of the Bitcoin addresses active during this period and then my whale manipulation alert flashed on that monthly .
This indicator shows me that price is being pushed up by whales , which is not a good thing for price because its a setup for a top or crash after.
In the TA above I speak about this , using on chain metrics you can see how price was pushed up by the few whales , there was no hype , no retail.
Now fast forward a year and we find our selfs in the same situation at the bottom.
Cycle Bottom -
There so many indicators and signals that flashed the bottom you can check it out in the TA which I first linked.
Technical Bottom (Bear Trap) -
Using this model you can see we now at the green area that bottomed last cycle and we still above the white support which Bitcoin historically creates every cycle.
The bottom of the green channel in this model currently sits at 11k , anything is possible at this moment so a move down to this area can happen but what i expect to happen is a close above this white line so hammer wick down to 11k and weekly close above 15k.
So bottom line is at this moment I have no idea where this is going for the first time this year , prepare for impact is what im doing , orders set at 11.5k already on a exchange that hopefully is not going under lol , coinbase and we shall soon find out if the big players in the space are pulling off the same stunt as last November.
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